‘Many People are Migrating to Cardano,’ Says Dan Gambardello

Dan Gambardello speaks positively about Cardano. He said many people are migrating to the Cardano blockchain. Gambardello stated that Cardano ...

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Cardano Developer Reveals Progress On Scaling Protocol Hydra

Cardano announced its Hydra protocol last year and has continued to develop on it ever since. The project which finally gained smart contract capability in 2021 has been making strides in proving that it is a force to be reckoned with in the space. Its decentralized finance (DeFi) space has begun to take off. Now, it offers insight into the Hydra protocol and how much progress the team has made with scaling it. Hydra Has Evolved In a recently published report on its official website, the developer behind Cardano known as IOG has provided more information on what the project Hydra is up to. It explains where the protocol is now if far from where it is coming from. Hydra which was created by the Ouborous team to increase throughput, minimize latency, and provide cost-efficient solutions without sacrificing storage resources continues to evolve. Related Reading | Bitcoin On-Chain Demands Suggests That The Market Has Reached Its Bottom Hydra has now matured into a proof of concept protocol, something that was not in the initial roadmap. This has pushed the project towards “a more defined implementation for the testate MVP.” There are different Hydra Heads, which involve a robust network layer between Cardano and other blockchains, as well as other smart contracts that will drive the lifecycle of a Hydra Head. Acting as a mini-ledger, it works similarly to the on-chain main ledger of the Cardano network, but on a smaller scale, as well as off-chain. ADA trending around $1 | Source: ADAUSD on TradingView.com With the consensus algorithm provided on this protocol, all parties involved in a transaction need to agree before it is allowed to go through. This provides a very high level of security for those using the protocol. “A consequence of this is that, as a participant, I cannot lose money I haven’t explicitly agreed to lose. Why? Because any valid transaction requires my explicit approval,” the report reads. Cardano Heading To A Million TPS One of the selling points of the Cardano network is how many transactions per second it can process. The proof of stake network is significantly faster than ethereum, its leading competitor. The project is committed to improving the TPS. However, that is not all Hydra is about. Related Reading | Why The IOTA Foundation Donated £1M To The Imperial College Although TPS can sound like an important metric, the report establishes that it is the least meaningful metric to use when carrying out a comparison since transactions can come in different shapes and sizes. Yes, the blockchain is working towards more scalability but “scalability isn’t about a million TPS.” Instead of looking at TPS, the report asks to look at throughput, finality, and concurrency, since these metrics rank as more important in the grand scheme of things. These three metrics represent volume, speed, and amount of work done, the report says. Featured image from Blaze Trends, chart from TradingView.com

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Cardano Network Maintains Two Weeks Record Capacity Due to SundaeSwap Launch

Cardano network has maintained two weeks record capacity due to SundaeSwap launch. The network TVL has reached $80 million. Users ...

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Expert Releases Extended UTXO Model on Cardano, Hoskinson Is Happy

Expert releases EUTXO model on the Cardano network. Charles Hoskinson is enthusiastic about the innovation. Traders think this innovation can ...

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First Cardano Native Asset, REVU Token List on KuCoin and Gate.io

REVU token has been listed on centralized exchanges such as KuCoin and Gate.io. Starting from January 7th all retail investors ...

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Cardano Records Over 20 Million Transactions Ahead of DEX Launches

The Cardano network remains one of the most stable blockchains in the crypto space. Founded in 2017, the network remains the largest proof of stake network in the industry. It holds the title for the proof of stake network with the highest amount of coins staked, only recently conceding to Solana to become the smart contracts platform with the second-largest amount of coins staked. Nevertheless, Cardano remains a force to be reckoned with and its latest achievement has shown that. Network activity has picked up on the network since the launch of smart contracts capability. Now, a little over two months after, the network has marked its 20 millionth transaction after only four years in operation. Related Reading | Cardano Active Addresses Shoots To New Highs Amid Downtrend Cardano Remains At The Top The project has done some impressive things in its four years of operation, one of which is barely experiencing any downtime. Most projects in the market have experienced downtime at some point. Most notably the Solana network blackout that saw the network go dark for about 24 hours. Cardano itself has experienced downtime which occurred in April but it lasted for only an hour and was over so quickly that a good portion of the community does not know this happened. Despite the lack of decentralized exchanges (DEXes) on the blockchain, it has managed to ramp up more activity than leading smart contracts platform Ethereum. Users can mint NFTs on Cardano, which has contributed greatly to this increased network activity. However, given that Ethereum has DEXes and NFT capability, this is an incredible feat for Cardano. ADA begins recovery trend | Source: ADAUSD on TradingView.com With this, Cardano has proven that it will be one of the leading DeFi platforms once decentralized finance takes off properly on the platform. ADALend, credited as the first lending protocol on the platform, is building its decentralized lending protocol on Cardano, which has been positively received by the community so far. How ADA Is Doing In The Market Cardano’s native token ADA has not had the best of weeks in the market recently. The digital asset had been the victim of major FUD that has seen its price sink to three-month lows. This has mostly been the result of crypto exchange eToro announcing that it would be limiting Cardano (ADA) capabilities for U.S. users on the platform starting in December. Related Reading | Cardano Ambassador Addresses FUD Surrounding The Project The token had taken a big hit following this, dropping down to the $1.4 range before picking up steam again. Despite the recovery, the coin continues to trade at about $50% less than its all-time high above $3 in September. Dropping prices have however not affected the amount of tokens being staked on the network. Cardano still maintains over 70% of its total supply staked by holders, one of the largest in the space. Featured image from Binance Academy, chart from TradingView.com

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Cardano Increases Block Size By 12.5%, What This Means

Cardano has been making important changes to its blockchain since the launch of smart contracts capability. This had brought with it an increased usage and thus needed to be more scalable to accommodate this increase. Since the launch in September, there have been a number of improvements to the network and the latest is the increase in the block size. Increased Block Size In Cardano Cardano, in a recent blog post, announced that they were increasing block size by 12.5% to make room for the increased traffic that is expected on the network. The 8KB increase will see the total block size now at 72KB and will allow more transactions to be fitted in a single block. This will allow more transactions to be processed per second, greater data throughput, in turn providing greater capacity for its users. Related Reading | Cardano Founder Says Metaverse Is Important For Crypto Keep in mind that a year ago, Cardano only averaged 10,000 transactions per day. Now, a year later, this number has risen significantly to more than 200,000 and climbing. A 12.5% increase in block size may not seem large by the average margin but is important to accommodate for this increased usage. ADA drops to $1.77 | Source: ADAUSD on TradingView.com Another factor that warrants the increase in block size is the anticipation of DApps that are expected to launch on the blockchain soon. Since Cardano already has smart contracts capability, it is only a matter of time until developers begin deploying their apps. This anticipated rise in traffic has made increasing block size important for the network. Plutus Script Memory Gets A Boost Block size was not the only thing that got a boost. Cardano also increased Plutus script memory units by transaction. In another 12.5% expansion, the Plutus script memory units per transaction is now 11.25 million. In the blog post, John Woods, Director of Cardano Architecture, explained that this change was brought about due to growing demand from developers. It will help developers in their journey as they test and deploy their DApps on Cardano. “An increase in Plutus memory limits means that they can develop more sophisticated Plutus scripts, or that existing scripts will be able to process more data items, increase concurrency, or otherwise expand their capabilities.” Woods notes that this is only a first in a series of changes that will take place to expand the real-world capabilities of Plutus scripts. Related Reading | Cardano Founder Reiterates Long-Term Purpose Amid Sell-Off Panic The changes in block size and Plutus script memory units by transactions will be implemented slowly. Cardano has adopted a ‘slow and steady’ mechanism going forward with the changes. Although this may look to be moving too slow for some, a 12.5% increase shows that the developer is not rushing to make changes that would adversely affect the network. “It’s not just about creating more complex scripts. It’s also about putting more data through,” the blog post read. Featured image from The Cryptonomist, chart from TradingView.com

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What Went On In The Secret Meetings Between Cardano Developer IOHK And Zanzibar Officials?

The Cardano Africa tour had been in full gear for a couple of weeks now, ending when Hoskinson had returned back to the States. Founder Charles Hoskinson had announced the tour after the successful launch of smart contracts capability on the blockchain and last month, the tour had kicked off. Hoskinson and the Cardano Foundation plan to meet and liaise with developers of Cardano-based projects and officials of various countries to discuss the acceleration of blockchain adoption on the continent. Related Reading | Shiba Inu Beats Out Cardano, Dogecoin On Top 10 Watch-Listed Tokens Judging by Hoskinson’s Twitter feed, the tour has been going as planned as he has met with a number of project leads and officials in various countries so far. One thing that remains a mystery is the secret meetings. Cardano developer IOHK has met with Zanzibar Officials but these meetings have been kept private from the general public. Here’s what we know. Mapping The Future For Zanzibar Finding ways to grow interconnectedness around the continent had been one of the goals of the Cardano Africa tour. The foundation had gone into this full-swing once Hoskinson had touched down in Zanzibar. Talks of technological advancement in the region have dominated this leg of the tour. ADA price trading at $2.126 | Source: ADAUSD on TradingView.com Charles Hoskinson himself had personally inspected solar battery modules and telecom station installations in the country. This was in an effort to bolster social advancement and help businesses succeed. IOHK and Zanzibarian officials had discussed how to bring to fruition a more connected future for the citizens in a meeting hosted by World Mobile Team. The meeting which was held on November 8 saw both the Zanzibarian government and IOHK align values for the future, pointing out that empowerment efforts being carried out by officials to give fishermen their own boats was the kind of work the developer was interested in. Cardano Pushing Growth In Africa The Cardano Africa tour is only another in the series of steps that the developer has taken to help promote innovation on the continent. Crypto enthusiasts have always looked to Africa as being a hotbed for blockchain adoption and Cardano has made sure to help foster the growth in the region. Particularly the growth of Cardano-based projects. This is why millions of dollars have been spent by the foundation to fund African projects. While there, Hoskinson had made strides for Cardano to lead blockchain development in African countries and one of the ways had been education. Related Reading | Cardano Flips Solana, Tether To Reclaim Spot At 4th Place Cardano Foundation provides financial and educational support when needed for startups in Africa. Furthermore, a deal had been struck with the Ethiopian government to launch digital IDs that would help track the academic performance of students in the region on the Cardano blockchain. The idea is that if students’ performances can be tracked, then the quality of education can be improved based on the needs of the students. Hoskinson has lauded the potential which the African continent holds for blockchain development and plans to expand the operations of Cardano on the continent in the coming years. Featured image from CryptoNinjas, chart from TradingView.com

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Cardano Offers Up To $10,000 For Network Vulnerabilities In Bug Bounty

Cardano is getting ready for the release of smart contracts capability on September 12th. To this end, the Cardano Foundation is taking steps to make sure that there are no vulnerabilities in the network ahead of launch. A new partnership will help to facilitate this, while also engaging the broader community to take part in making sure that the beloved ecosystem is as safe as possible. Cardano Foundation, in conjunction with HackerOne, recently released a bug bounty program. This program aims to reward hackers for any vulnerabilities that they may find in the network. Bug bounty programs incentivize hackers to find and report vulnerabilities in a network instead of exploiting them for personal gain. Related Reading | Cardano (ADA) Getting Ready For A $3 Retest? Why A Bug Bounty Program Is Important There is no doubt that for an ecosystem as vast as Cardano, its team alone cannot find out all of the vulnerabilities in the network. This is where bug bounty programs come in. It draws in the wider hacker community to help find as many vulnerabilities as possible.  The partnership with HackerOne will draw in its large base of hackers, with over 250,000 vulnerabilities already found and reported by its hackers. Related Reading | Cardano (ADA) Founder Responds To Criticism Over New Crypto Partnership Ahead of its biggest project launch yet, the foundation is committed to making sure that the entire network is secure for use once it starts onboarding the general public to the mainnet with smart contracts capability. “Cardano is a leading blockchain ecosystem that aims to enable integrated blockchain solutions globally. It is our duty to maintain the highest standards and commitment to code transparency and reliability to ensure that the protocol remains viable for mission-critical applications delivered around the world from individuals, start-ups, enterprises, financial institutions, and governments alike.” – Jeremy First, Project Manager, Cardano Foundation. Keeping Cardano Blockchain Safe Finding bugs through ethical hackers is one of the most efficient ways for any organization to fish out vulnerabilities in its network. Projects like Cardano will usually use automated scanners to check for vulnerabilities in the networks. But bugs that are ‘chained’ together cannot be detected by these automated scanners. This is where human hackers come in. Related Reading | Crypto Analyst Lays Out ADA Pathway To $4 Ethical hackers use creative thinking to identify places where these ‘chained’ bugs may reside and then report them to be fixed. So something an automated scanner would not catch, an ethical hacker, through the HackerOne bug bounty program, would find and then report. Increasing the safety of the network. Rewards for the bug bounty are separated into four different levels; low, medium, high, and critical. The bug bounty is also separated into two groups. Bugs can either be reported in the Cardano Wallet or the Cardano Node. The rewards range from $300 for low priority bugs in the Wallet to as high as $10,000 for the critical level bugs in the Node, which will be paid in its native token ADA. ADA price continues to trail $2.8 | Source: ADAUSD on TradingView.com Featured image from The Cryptonomist, chart from TradingView.com

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AML Analytics Tool Will Be Implemented By Cardano Network

As we all know, Cardano Founder Charles Hoskinson is constantly working on making cryptocurrency legal worldwide. They recently received authority to list their native coin, ADA, in Japan. They’re going to add additional trackable elements to ADA now. AML Analytics tool will be implemented by Cardano Network The new analytics tool deployment in the Cardano…

BuyUcoin Blog | By Anubha Singh

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Cardano Activity Sees New Life That Could Send ADA Price Soaring, Here Are The Targets

Cardano (ADA) has been stuck in a price rut recently, but behind the scenes, activity on the Cardano blockchain is exploding. Transaction volumes and wallet addresses are all growing, showing that interest and adoption of the network are growing rapidly. All this activity has prompted analysis of how far the crypto can spike in the near future. Cardano On-Chain Activity Points To Future Price Growth Cardano’s growth in development activity in recent months has rivaled other cryptocurrencies, putting it on the map among developers. Metrics show that there are currently 1,322 projects under development. Similarly, Plutus V2 scripts recently reached 18,821, and Plutus V1 scripts also stand at 6,536 to make a total of 25,357, indicating the growth of smart contracts. Related Reading: Massive $29.3 Million Whale Transfer Threatens XRP Price With More Sell Pressure These scripts are essential for deploying smart contracts on the Cardano chain and have seen a 76% growth from 14,379 scripts recorded on January 1. At the same time, Cardano’s transaction count in the past two months has been something to boast about. The Cardano ADA network recently successfully completed 255,000 payments in 24 hours. Particularly, December and January saw Cardano process over 4 million transactions each month, showing the increasing network usage.  Active daily addresses have steadied above 30,000 since the beginning of the year, recently reaching 57,304 active addresses on February 4th. The total transaction count is now at 83.58 million. These metrics reflect the network’s ability to process a high number of transactions and its appeal to developers looking to build innovative crypto projects.  Price Targets Suggest ADA Could Reach $4 To $6 Long Term Despite the gloomy price action in the past month, these metrics point to Cardano price sentiment changing to a more favorable one. As a result, analysts predict a bullish turnaround, with one even putting a $4 to $6 price target by 2026. This represents a 730% and 1140% growth from the current price level. Related Reading: PEPE Ready To Make A Comeback? On-chain Indicators Have The Answer In a similar vein, crypto analyst Ali Martinez predicted a more bullish surge to $8 by January 2025, representing a 1558% surge from the current price level. Nevertheless, ADA has a lot of room to grow if Cardano can continue to attract developer and investor interest. At the time of writing, Cardano is trading at $0.4825, with 44% of addresses still making a profit and 51% of addresses currently at a loss. While short-term volatility is likely and the road ahead still has obstacles, the long-term price outlook for ADA looks bright, and Cardano appears well positioned for future success in a wider crypto market bull run.  ADA price falls to $0.48 | Source: ADAUSD on Tradingview.com Featured image from Crypto Daily, chart from Tradingview.com

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Bitcoin Millionaire Takes A Shot At Cardano For Being A Wannabe Ethereum Details

Cardano (ADA) is being caught in the crossfire once again as Bitcoin millionaire Arthur Hayes is taking shots at the network. Arthur, who is known for being a founder and former CEO of the BitMex crypto exchange, has been vocal about his dislike for the network, which he believes is trying to be like Ethereum. Cardano Is A Wannabe Ethereum In an interview with Coin Bureau, Arthur Hayes did not hold back while sharing his scathing review of the Cardano blockchain. The interview, which focused on the performance of Bitcoin and the crypto market so far, pivoted toward Cardano, which Hayes seems to believe is a low-quality copy of Ethereum. Related Reading: Crypto Analyst Predicts 10X Move For Filecoin (FIL) To $70, But Can It Reach ATH? The millionaire started out by warning investors to steer clear of altcoins, which seem to be all buzz and no substance. These projects which he believes should reflect on being marketed too heavily have had a track record of imploding and not surviving the market. Turning to Cardano, Hayes delivered a scathing comment when he called the network the first wannabe Ethereum. Furthermore, the founder also does not believe that the network is all that relevant to the crypto industry and explains that the Cardano network is currently at risk of being irrelevant unless it finds some way to set itself apart from the countless Ethereum competitors out there. Hayes also talked about the Spot Bitcoin ETFs, which were approved for trading in January. But contrary to the warm reception that these exchange-traded products have received, Hayes posits that it is not a win for crypto. Rather, it is a fee-generating vehicle for asset managers such as BlackRock, he explained. Still Not Convinced About ADA Hayess comments about Cardano have not been limited to the Coin Bureau interview alone as he also took to his X (formerly Twitter) page to bash the network once again. In the post, Hayes refers to the network as dog sh*t. He pointed out that the most active decentralized applications (DApps) on the network were not originally launched on Cardano, questioning if the network has any offering that is widely used by investors, Related Reading: Ethereum Receives Nod Of Approval From Berstein: ETH Price Will Reach $10,000 Hayes takes the bashing a step forward by tagging Charles Hoskinson, founder of the Cardano network, and asking him to educate him about the network. However, instead of the usual clapbacks that Hoskinson is known for, he takes a more lighthearted tone, saying, Arthur, why are you throwing shade at Cardano? I like you man. Presently, Cardano continues to show strength after its Total Value Locked (TVL) rose 18% in the last month to cross $504 million. This makes it the 16th-largest network by TVL, in front of the likes of Coinbases Base and Aptos, according to data from DeFiLlama. ADA price reaches $0.59 | Source: ADAUSD On Tradingview.com Featured image from Vivere Jesi, chart from Tradingview.com

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Cardano Transactions Rise To Multi-Year Highs Metrics Support Bullish Outlook

Cardano (ADA) is trading above the critical $1 level, fueling optimism among investors anticipating further upside in the coming weeks. After a strong bullish run in recent weeks, the recent pullback appears to be a temporary pause in an upward trend. Crucial on-chain data supports this outlook, indicating robust network activity that reinforces the bullish [...]

The post Cardano Transactions Rise To Multi-Year Highs Metrics Support Bullish Outlook appeared first on Crypto Breaking News.

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Cardano Reclaims $1 As Network Growth Surges Larger Breakout Ahead?

Cardano (ADA) surged past the $1 mark over the weekend, marking a significant milestone in its recent rally. However, after reaching a multi-year high of $1.15, the cryptocurrency is now navigating a 17% correction as profit-taking sets in. Despite the pullback, the long-term outlook for Cardano remains bullish, fueled by renewed market momentum over the past three weeks. The price action reflects a maturing market, with ADA consolidating gains and building a foundation for its next move. On-chain data from IntoTheBlock highlights robust growth in network activity, signaling increased interest and adoption. This uptick in activity suggests that the consolidation phase could be temporary as the broader market gains strength. Related Reading: Bitcoin Realized Profit Hits ATH At $443 Million Local Top Or Continuation? Cardano’s ability to maintain key support levels during this correction will be crucial in determining its next direction. Analysts are optimistic that the networks growing fundamentals and favorable macro environment will drive ADA to new heights.  As traders and investors monitor the $1 support level closely, Cardanos evolving network metrics and bullish sentiment hint at a potential breakout shortly. Whether ADAs price action will capitalize on these factors remains a key question for market participants. Cardano Daily Active Addresses Growing Cardano’s network activity shows strong growth signs, with daily active addresses increasing significantly. On-chain data from IntoTheBlock reveals that the number of new user addresses has reached its highest since June 2023. This surge in network activity signals growing adoption and increased interest in the Cardano ecosystem, which is crucial for its long-term development. Over the weekend, Cardano reclaimed the $1 level, marking an important psychological milestone. While the price is currently consolidating, this movement comes amid a surge in network growth, indicating that market participants remain optimistic about ADAs future. IntoTheBlocks analysis on X suggests that Cardano could be preparing for a bullish breakout, with the potential to rise to new price levels as the current consolidation phase stabilizes. Despite the recent pullback from its multi-year high of $1.15, Cardano is still well-positioned for further growth. ADA remains more than 230% away from its all-time high (ATH), around $3.1, suggesting significant room for upside as the network matures and attracts more users. Related Reading: Bitcoin Rally Benefits From US Buyers Coinbase Premium Gap Reveals Strong Demand If the price maintains support above the $1 level and network growth continues to trend upwards, Cardano could be primed for its next bullish move. With the growing number of daily active addresses and a significant gap to its ATH, the potential for a strong rally remains intact. Investors are watching closely to see if Cardano can sustain this momentum and capitalize on the surging network activity in the coming months. ADA Demand Remains Strong Cardano is trading at $0.93 after an impressive 250% run from November 5 to its yearly high of $1.15. The price has since retraced more than 17% since Saturday morning’s peak, as it now attempts to find strong demand above the $0.90 level. This retracement is part of the natural consolidation process following a sharp rally, and ADA must hold above $0.90 to maintain bullish momentum. If ADA manages to hold above this level, it could position itself for a potential breakout, with the next key supply levels lying above $1.25. Such a move would indicate that the current pullback is simply a healthy correction before another leg up. However, if ADA loses the $0.90 level and fails to reclaim support, a deeper correction could follow, potentially bringing ADA to test lower levels. In that case, the next critical support zone would likely be closer to the $0.80 mark, where ADA might find further demand. Related Reading: Massive Ethereum Buying Spree Taker Buy Volume hits $1.683B In One Hour Overall, ADAs price action remains bullish in the longer term, but it needs to maintain support above the $0.90 mark to continue its upward trajectory and reach new supply levels above $1.25. Featured image from Dall-E, chart from TradingView

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